2024
9
British Lifestyles Consumer Report 2024
2024-05-09T11:01:50+01:00
REPF913E0F1_1AB0_4615_90D4_19F599E72BFA
2195
172879
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Report
en_GB
2024 will be another year of cautious spending, but while many Brits feel downbeat about ongoing crises, they are focusing on the positives in their own lives. Francesca Smith,…
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  6. British Lifestyles Consumer Report 2024

British Lifestyles Consumer Report 2024

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Stay ahead of the curve and future-proof your business with Mintel’s UK British Lifestyles Market Report 2024. Our full report is packed with consumer-led market intelligence, the latest British Lifestyle trends and consumer behaviours affecting your business. Get a 360° view of consumer spending across multiple categories, including BPC, food and drink, retail, leisure and household.

Topics Analysed in this Report

  • Trends in the British economy, demographic makeup and household finances, including the continuing impact of the cost-of-living crisis.
  • Consumer spending trends over the last five years and forecasts for spending over the next five years, in total and segmented by consumer sectors.
  • Expected changes in consumer spending in 2024 compared to 2023.
  • Consumers’ expectations for society and the world in 2024.
  • Consumer behaviour in uncertain times.
  • The qualities British consumers most look for in brands.
  • What British consumers are looking forward to in 2024.

British Lifestyles: An Overview

Significant damage has been done to consumer finances over the past few years, most significantly from very high levels of inflation. As a result, the value of total consumer spending is estimated to have fallen in real terms in 2023. 2024 is forecast to be another year of cautious spending as Brits stay loyal to savvy shopping behaviours and are yet to feel the relief of improving economic conditions.

  • Consumer spending market size: Mintel forecasts the total UK expenditure will be £1.76 trillion in 2024.

British Lifestyle Trends and Opportunities for Consumer Spending

Younger consumers are more optimistic

Younger consumers are more likely to have been sheltered from some of the harshest impacts of the cost-of-living crisis and many prioritised saving. In 2024, they are hoping to spend more freely compared to 2023 across a number of categories.

  • British lifestyle trends: 44% of under-35s expect their standard of living to improve in 2024

Positives in the everyday

While the majority of Brits feel pretty downbeat about the state of the UK and the world in 2024, they are much more positive about their own lives. This ignited feeling of gratitude has created interest in spending time with loved ones, be in nature and go on holiday, whether that be an intergenerational holiday, a once-in-a-lifetime trip or to a more affordable domestic destination.

  • British lifestyles statistics: 76% of adults agree the events of recent years have made them appreciate their lives more.

Purchase our British Lifestyles Market Report to receive a five-year forecast, consumer behaviour analysis, and recommendations for market opportunities. Readers of this report may also be interested in our UK Lifestyles of Generation Z Market Report 2024, or our range of Consumer Lifestyle Market Research.

Additional Features Included with Your Purchase

  • Interactive Databook: Each Databook is provided as an interactive website where you can deep dive into our consumer research data on your chosen topic so you can draw your own conclusions.
  • Consumer Confidence Tracker: Our Trackers paint the picture of the economic confidence and major concerns of up to 40 different demographics, tracking changes in attitudes over time.
  • Custom PowerPoints: Incorporate our consumer research data into your own work so you can win over your clients and stakeholders. Select insights from your report to create a custom presentation that is ready to download in minutes.
  • Different Digital Formats: PDF for conveniently sharing with your team, PowerPoint for quickly including in your presentations.
  • Mintel’s Clients Portal: Our portal provides instant access to actionable analysis, podcasts, and trend pieces relevant to your industry that are published almost daily, as well as our annual Global Consumer Trends. You can also browse our extensive catalogue of market research reports.

Expert Insights from a Consumer Lifestyles Analyst

This report, written by Francesca Smith, a leading research analyst, delivers in-depth commentary and analysis to highlight British lifestyle trends and add expert context to the numbers.

2024 will be another year of cautious spending, but while many Brits feel downbeat about ongoing crises, they are focusing on the positives in their own lives.

Francesca Smith
Senior Research Analyst – Consumer Lifestyles

Collapse All
    • Key issues covered in this Report
  1. Executive Summary

    • Opportunities for consumer spending
    • Market dynamics and outlook
    • Graph 1: total consumer spending (£ trillions), 2018-23
    • Graph 2: estimated percentage change in consumer spending, by category, 2022-23
    • Graph 3: the financial wellbeing index, 2016-24
    • What consumers want and why
    • Graph 4: spending expectations for 2024 compared to 2023
    • Graph 5: consumer behaviour in response to crises, 2024
    • Graph 6: brand qualities most important to consumers, 2024
  2. Market

    • Market size and performance
    • Graph 7: total consumer spending (£ trillions), 2018-23
    • Market forecast
    • Market segmentation
    • Graph 8: estimated consumer spending, by category (£ billions), 2023
    • Graph 9: estimated percentage change in consumer spending, by category, 2022-23
    • Graph 10: forecast percentage change in consumer spending, by category, 2023-28
    • The economy
    • Graph 11: quarter-on-quarter change in GDP, 2018-23
    • Graph 12: monthly CPI, 2018-24
    • Graph 13: CPI and average annual wage growth, 2021-24
    • Household finances
    • Graph 14: the financial wellbeing index, 2016-24
    • Graph 15: changes in household finances, 2016-24
    • Graph 16: the financial confidence index, 2016-24
    • People
    • Graph 17: population estimates, 2021 projection, 2004-44
    • Graph 18: total fertility rate, 1992-2022
    • Graph 19: population, by age, 2004-64
    • Graph 20: mid-year migration estimates (thousands), 2013-23
    • Graph 21: ethnicity of population, by age, 2021
    • Food through retail
    • Alcoholic drinks through retail
    • Non-alcoholic drinks through retail
    • Beauty and personal care
    • OTC remedies and pharmaceuticals
    • Household care
    • Holidays
    • Leisure
    • Foodservice
    • Transport
    • Fashion
    • Home and garden
    • Housing
    • Insurance
    • Technology and media
  3. What Consumers Want and Why

    • Consumer spending expectations
    • Graph 22: spending expectations for 2024 compared to 2023
    • Graph 23: current financial situation, 2023-24
    • Graph 24: consumers expecting to spend more across selected categories in 2024 compared to 2023, by generation, 2024
    • Graph 25: consumers spending less in selected categories, by financial situation, 2024
    • Expectations for 2024
    • Graph 26: expectations for this year, 2024
    • Graph 27: “In 2024, I expect my standard of living to improve”, by current financial situation, 2024
    • Graph 28: expectations for 2024, by age, 2024
    • Graph 29: “In 2024, I expect AI to have a positive impact on my work”, by age, 2024
    • Life satisfaction
    • Graph 30: life satisfaction, 2024
    • Graph 31: life satisfaction, by financial situation, 2024
    • Consumer behaviour in crisis
    • Graph 32: “The events of recent years have had a negative impact on my mental wellbeing”, by age, 2024
    • Graph 33: consumer behaviour in response to crises, 2024
    • Important brand qualities
    • Graph 34: brand qualities most important to consumers, 2024
    • Graph 35: most important brand qualities to consumers, by age, 2024
    • What Brits are looking forward to in 2024
    • Graph 36: what consumers are most looking forward to in 2024
    • Graph 37: what consumers are most looking forward to in 2024, by age, 2024
  4. Appendix

    • Market forecast data and methodology
    • Report scope and definitions
    • Methodology

Why Choose Mintel?

Mintel is the world’s leading market intelligence agency. We show you how consumers think today and tomorrow. As a trusted partner to industry leaders, we deliver game-changing insights to businesses across the globe, fuelling their marketing and innovation strategies that will shape the future.

Access high-quality market research with every purchase of Mintel’s consumer reports. Here’s what else is included in your report purchase:

  • Multiple Report Formats: Mintel’s reports are available in PDF and PPT formats, and are delivered straight to your inbox, so you can easily share Mintel’s market intelligence.
  • Access to Mintel’s Clients Portal: After your purchase is completed, you’ll receive an invitation to join Mintel’s Clients Portal, providing instant access to supplementary insights from Mintel’s industry experts.
  • Interactive Databook: Mintel’s bespoke consumer data is presented as an interactive website, so you can deep dive into your chosen topic, explore demographics and download specific statistics.
  • Custom Presentation Tool: Easily incorporate selected research data and analysis into a tailor-made presentation to win over clients and stakeholders.

Take a look at a sample PDF report below:

Please Note: All of the figures, graphs, and tables in this sample report have been redacted.
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